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ICAEW Business Confidence Monitor: national

The latest ICAEW Business Confidence Monitor (BCM) shows that business confidence remains negative reflecting multiple of worries. The latest findings suggest that GDP growth is likely to be weak in the second and third quarters.

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Q3 2019 UK Business Confidence Monitor.


Key findings this quarter

  • The trend in confidence within the quarter is firmly downwards. Political uncertainty is certainly a reason, but not the only one.
  • Export sales growth weakens reflecting the continuing slowdown in the global economy.
  • Challenges due to late payments and spare capacity are both up, putting pressure on profits.
  • As costs continue to outpace selling prices companies are maintaining control over their employment growth, which remains below sales volumes rises.
  • Profits are increasing slowly with investment growth suffering. 
  • Capital investment is growing more slowly. Spare capacity may explain some of this, and weak business confidence is doubtless a factor here.


Research methodology

Find out about the research methods that underpin the ICAEW Business Confidence Monitor.

Using BCM data

If you'd like to use this data in a publication or share it with clients, please tell us in advance by emailing bcm@icaew.com, and make sure to reference 'ICAEW Business Confidence Monitor' in full whenever you are citing the data.

Taking part in the BCM

If you're an ICAEW member working in industry or commerce you might be called to give an opinion on the economic prospects facing your organisation - please spare a few minutes to take part. Your views will provide information on matters of key concern to a broader businesses community, policy-makers and the media. You'll also be helping ICAEW to promote Chartered Accountants as business people with a serious contribution on business, finance and economic issues.